Keefe, Bruyette & Woods Raises Coinbase Global (NASDAQ:COIN) Price Target to $240.00

Coinbase Global (NASDAQ:COIN) had its target price hoisted by Keefe, Bruyette & Woods from $230.00 to $240.00 in a report released on Friday, Benzinga reports. The firm currently has a market perform rating on the cryptocurrency exchange’s stock.

Several other brokerages also recently commented on COIN. Canaccord Genuity Group increased their price target on Coinbase Global from $240.00 to $280.00 and gave the company a buy rating in a report on Friday. Piper Sandler lifted their target price on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a neutral rating in a report on Friday, April 12th. HC Wainwright boosted their target price on shares of Coinbase Global from $250.00 to $300.00 and gave the stock a buy rating in a research report on Monday, April 29th. JPMorgan Chase & Co. raised their price target on Coinbase Global from $95.00 to $150.00 and gave the company a neutral rating in a research report on Friday, March 15th. Finally, Barclays boosted their price objective on Coinbase Global from $146.00 to $179.00 and gave the stock an underweight rating in a research report on Monday, April 8th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $192.60.

Coinbase Global Price Performance

NASDAQ COIN opened at $223.25 on Friday. The company has a 50 day moving average price of $236.37 and a two-hundred day moving average price of $167.06. Coinbase Global has a 12-month low of $46.43 and a 12-month high of $283.48. The stock has a market capitalization of $54.09 billion, a PE ratio of 44.56 and a beta of 3.46. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $1.13. The company had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a return on equity of 10.24% and a net margin of 33.98%. The business’s revenue was up 51.6% compared to the same quarter last year. During the same period last year, the company earned ($2.46) earnings per share. As a group, equities analysts predict that Coinbase Global will post 2.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total value of $322,500.00. Following the sale, the chief operating officer now directly owns 213,851 shares in the company, valued at approximately $45,977,965. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $215.00, for a total value of $322,500.00. Following the sale, the chief operating officer now owns 213,851 shares of the company’s stock, valued at approximately $45,977,965. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total value of $9,833,424.90. Following the completion of the sale, the director now owns 4,662 shares in the company, valued at $558,181.26. The disclosure for this sale can be found here. Insiders sold 420,597 shares of company stock valued at $86,053,862 over the last quarter. Corporate insiders own 33.16% of the company’s stock.

Hedge Funds Weigh In On Coinbase Global

Several institutional investors have recently added to or reduced their stakes in COIN. Fountainhead AM LLC grew its stake in Coinbase Global by 2.1% during the fourth quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock worth $688,000 after buying an additional 81 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Coinbase Global by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock worth $2,561,000 after acquiring an additional 81 shares in the last quarter. Nilsine Partners LLC boosted its holdings in shares of Coinbase Global by 1.2% in the 1st quarter. Nilsine Partners LLC now owns 6,738 shares of the cryptocurrency exchange’s stock worth $1,786,000 after acquiring an additional 81 shares in the last quarter. Arkadios Wealth Advisors grew its position in Coinbase Global by 2.6% during the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock worth $590,000 after acquiring an additional 86 shares during the last quarter. Finally, Concord Wealth Partners increased its holdings in Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.